What does closing costs mean?

Closing is the phase in the Boston condo process when money and documents are transferred in order to transfer ownership of your Boston high rise condo to the buyer. In a successful closing, both buyer and seller fulfill the agreements made in the contract. The seller will pay off all loans on the property to clear title, and the buyer and their lender will wire transfer money to cover the balance owed on the purchase. 

What are closing costs for Sellers?

Closing costs are an assortment of fees—separate from agent commissions—that are paid by both buyers and sellers at the close of a real estate transaction. In total, the costs range from around 1% to 7% of the sale price, but sellers typically pay anywhere from 1% to 3%, according to Realtor.com.

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